AusDoc's Support & Resistance Tool for Locating Stops


AusDoc

Well-Known Member
Hopefully you already know how to look at a chart and identify where most traders will have placed their stops. I presume you also know how to use this information effectively.

Our own foreigner recently posted the following chart, suitably marked up.


Source: http://fxgears.com/forum/index.php/topic,242.msg6119.html#msg6119

Below I have attached a tool that will plot the support and resistance (S&R) levels that most traders use for stops placement. The tool identifies S&R at Daily, 4 Hourly, 1 Hourly and 15 minutely periods and will plot them at and below each period. The following charts illustrate its application on the EURUSD across multiple time frames.











 

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foreigner

Est. 12480 Hours and Counting
Thanks for the mention AusDoc.

This is a useful tool for training the eye on 'liquidity pockets' which to me are the abstract to orderflow and therefore an integral part of analysis.

Thanks for sharing.
 

foreigner

Est. 12480 Hours and Counting
Practicing what I preach..



Thanks to ICT for reflection pattern, Rod178 for KSRfigures, Ausdoc and Hopiplaka for inspiration and last but not least, buy stops for liquidity.
 

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